The Long & Foster Market Minute

Focus On: Severna Park Housing Market April 2019

Zip Code(s): 21146
Units Sold
42
Active Inventory
93
Median Sale Price
$532,500
Days On Market
62
Down -16%
Vs. Year Ago
Down -19%
Vs. Year Ago
Up 18%
Vs. Year Ago
Up 22%
Vs. Year Ago

Units Sold
There was an increase in total units sold in April, with 42 sold this month in Severna Park Real Estate. This month's total units sold was lower than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is lower by 22 units or 19%. The total number of active inventory this April was 93 compared to 115 in April 2018. This month's total of 93 is higher than the previous month's total supply of available inventory of 86, an increase of 8%.

Median Sale Price
Last April, the median sale price for Severna Park Homes was $450,000. This April, the median sale price was $532,500, an increase of 18% or $82,500 compared to last year. The current median sold price is 2% higher than in March.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
67
Current Contracts
50
Sold Vs. List Price
98.2%
Months of Supply
2.2
Down -12%
Vs. Year Ago
Down -4%
Vs. Year Ago
Up 0.6%
Vs. Year Ago
No Change
Vs. Year Ago

Months of Supply
In April, there was 2.2 months of supply available in Severna Park. The amount of supply is similar compared to a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

New Listings & Current Contracts
This month there were 67 homes newly listed for sale in Severna Park compared to 76 in April 2018, a decrease of 12%. There were 50 current contracts pending sale this April compared to 52 a year ago. The number of current contracts is 4% lower than last April.

Sale Price to List Price Ratio
In April, the average sale price in Severna Park was 98.2% of the average list price, which is 0.6% higher than at this time last year.

Days on Market
This month, the average number of days on market was 62, higher than the average last year, which was 51, an increase of 22%.

The Long & Foster Market Minute Severna Park are defined as properties listed in zip code/s 21146.
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by BRIGHTMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of BRIGHTMLS or Long & Foster Real Estate, Inc.